Stories

Norway Oil Minister Confident Snorre Extension Project Will Go Ahead

August 26, 2014

Norway is confident the Snorre oilfield's production life will be extended as planned, the country's oil and energy minister said on Tuesday, despite doubts expressed by some of the partners about the project's viability. Statoil and partners planned to install a new platform at the North Sea field…

ABS Opens Office in Beijing

August 26, 2014

ABS, a global provider of classification services to the marine and offshore industries, announces the opening of a new office in Beijing. This move shows ABS' determination in expanding best-in-class service for the Chinese market. This new office will allow further collaboration with government…

Statoil: Aasta Hansteen Moving Boundaries

August 26, 2014

Aasta Hansteen and Polarled are moving the boundaries for technology, deep waters and ripple effects on the Norwegian continental shelf (NCS). "Aasta Hansteen is one of the biggest and most complex industrial projects in Europe. With the Polarled…

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Sinopec SVP is new Sinochem Chair

August 26, 2014

A former senior vice president at top Asian oil refinery Sinopec Corp has officially taken office as the new head of state-run Sinochem Group, officials at the two companies said on Tuesday. Cai Xiyou, Sinopec's vice president in charge of oil trading and sales…

Johan Svedrup Design Two-Thirds Complete

August 26, 2014

Aker Solutions says it has assembled one of its biggest engineering teams ever to deliver the initial plans for the engineering and design phase of the giant North Sea Johan Sverdrup oil deposit. The company says it is on track to deliver the first draft report due in the fourth quarter…

Shell Finds Gas in Malaysia's Marjoram-1 Field

August 26, 2014

Shell  announces further exploration success in Malaysia with another gas discovery at the Shell-operated deep-water Marjoram-1 well. “Our strategy to expand our heartland areas through technologically advanced exploration is delivering tangible success in deep-water in Malaysia…

Increased Oil Storage Plays: Analysis

August 26, 2014

During the last few days, various articles in the oil and shipping press have hinted at the possibility that renewed contango in the oil markets could lead to increased storage plays after several Suezmaxes were fixed for discharge in Saldanha Bay…

Hallin Marine Completes Unique FPSO Contract

August 26, 2014

Hallin Marine, a Superior Energy Services company, says it has completed a unique project for COOEC Subsea Technology, a wholly-own subsidiary of COOEC (China Offshore Oil Engineering Company) which  involved the replacement of 9 mooring lines…

Kongsberg Maritime

August 25, 2014

Strandpromenaden 50, Horten, Vestfold, Norway 3183 T: +47 32 28 50 00 E: subsea@kongsberg.com W: http://km.kongsberg.com CEO/President: Geir Håøy VP: Bjørn Jalving, EVP, Subsea Division Number of Employees: 4396   The Company Company Mission: Maximizing performance by providing The Full Picture.

Crowley Tug Participates in Rig Blackout Test

August 25, 2014

Once again displaying their diversity for use in the domestic petroleum industry, one of Crowley’s four ocean class tugs, Ocean Sky, recently provided back-up station-keeping and holdback services during a routine blackout test of ultra-deepwater, semisubmersible oil rig Noble Jim Day in U.S.

McDermott Wins Fast-track Build Contract in Indonesia

August 25, 2014

McDermott International, Inc. announced today that one of its subsidiaries has been awarded a fast-track fabrication contract by PC Ketapang II Ltd., a subsidiary of PETRONAS for the BTJT-A Jacket as part of the Bukit Tua Development Project in the Ketapang block of East Java, Indonesia.

SMM Finance Forum: ‘Banks are Lending Again’

August 25, 2014

For Dr. Carsten Wiebers, Global Head of Maritime Industries at KfW IPEX-Bank, and member of the SMM Advisory Board, innovative financing solutions are key to Europe's continued international competitiveness in maritime high technology. On September 8…

Statoil to Hold Back US Shale Ramp Up

August 25, 2014

Norwegian energy firm Statoil will only slightly raise its U.S. shale oil and gas output in the near term due to spending curbs, well below a potential for a 50 percent surge, the firm said on Monday. Statoil, which produces around a tenth of its oil and gas from its U.S.

ABS to Class Ultra Deepwater Offloading Unit

August 25, 2014

The Remora HiLoad DP BR unit design approved by ABS will have advanced capabilities for offloading operations in Brazil's Santos Basin. ABS, a provider of classification services to the global offshore industry, has been selected to class the Remora HiLoad dynamic positioning (DP) BR loading unit…

Lundin Petroleum: Edvard Grieg Field Up in Oct 2015

August 25, 2014

The Edvard Grieg oil field off Norway is expected on stream in October next year, its operator Lundin Petroleum said on Monday. "We should be on production in October next year," Torstein Sannes, Lundin Petroleum's chief in Norway, told a news conference.

Sinopec:China Shale Costs Will Drop

August 25, 2014

State-run oil company Sinopec Corp said on Monday it expects shale drilling costs in China to drop to $50 million per well from $80 million in three to five years. Chairman Fu Chengyu was speaking at the firm's results briefing after it reported…

KNOT Purchases 3 Shuttle Tankers from J. Lauritzen

August 25, 2014

Knutsen NYK Offshore Tankers AS (KNOT; headquarters: Haugesund, Norway), of which NYK has a 50 percent share, has officially reached an agreement with J. Lauritzen A/S (headquarters: Copenhagen, Denmark) to purchase its three shuttle tankers.*…

China Shale Drilling Costs Expected to Fall

August 25, 2014

State-run oil company Sinopec Corp said on Monday it expects shale drilling costs in China to drop to $50 million per well from $80 million in three to five years. Chairman Fu Chengyu was speaking at the firm's results briefing after it reported…

Sinopec's Profit up at 32.5 billion yuan in 1H, 2014

August 23, 2014

Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%. Semi-annual report and display, from…

Kuwait to Boost Oil Exports to China

August 23, 2014

Kuwait plans to increase the volume of crude oil exports to China to 500,000 barrels a day (bpd) in three years, an executive at the state-run Kuwait  Petroleum Corporation (KPC) said Saturday. On Monday, Kuwait concluded a new 10-year deal…

YPF Oil Extends Operating Agreement with Sinopec to 2027

August 23, 2014

Argentina's state oil company YPF agreed Friday to extend its operation until 2027 in partnership with a local unit of China's Sinopec oil in an area of ​​a province in the center-west of the country, which represent an investment of $ 300 million, the company said in a statement.

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